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Panoro Minerals to Rely on Temporary Relief Granted by Regulators in Filing Annual Consolidated Financial Statements
VANCOUVER, British Columbia, April 29, 2020 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) announces that on March 23, 2020, Ca
About this update from Panoro Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, April 29, 2020 (GLOBE NEWSWIRE) -- Panoro Minerals Ltd. (TSXV: PML, Lima: PML, Frankfurt: PZM) announces that on March 23, 2020, Canadian Securities Regulators published temporary blanket relief for market participants from certain regulatory filings as a result of COVID-19. The Company intends to rely on the temporary blanket relief which provides for a 45 day extension to file its Audited Annual Financial Statements and MD&A for the period ending December 31, 2019. Panoro now expects to file its Audited Annual Financial Statements and accompanying MD&A on or before May 29, 2020. Furthermore, the Company's directors, officers and other insiders will be subject to a trading blackout until such time as the Annual Financial Statements are filed. The Company confirms that there have been no material business developments that have occurred subsequent to the filing of the Company's September 30, 2019, Condensed Consolidated Interim Financial Statements on November 22, 2019, that have not already been disclosed by the Company. About Panoro Panoro Minerals is a uniquely positioned Peru focused copper exploration and development company. The Company is advancing its flagship project, Cotabambas Copper-Gold-Silver Project and its Antilla Copper-Molybdenum Projects located in the strategically important area of southern Peru. The Company also has a Joint Venture agreement with the Japanese Oil, Gas and Mineral Exploration Company (JOGMEC) to advance its early stage Humamantata Copper Project and a partnership with Hudbay Minerals Inc. at its Kusiorcco Copper Project where Panoro is to receive cash payments and a 2% NSR royalty. At the Cotabambas Project, the Company is focused on delineating the growth potential while optimizing the project economics. Exploration and step-out drilling from 2017, 2018 and 2019 has identified the potential for both oxide and sulphide resource growth. Summary of Cotabambas and Antilla Project Resources Project ResourceClassification MillionTonnes Cu (%) Au (g/t) Ag (g/t) Mo (%) CuEq% Cotabambas Cu/Au/Ag Indicated 117.1 0.42 0.23 2.74 0.001 0.59 Inferred 605.3 0.31 0.17 2.33 0.002 0.44 @ 0.20% CuEq cutoff, effective October 2013, Tetratech Antilla Cu/Mo Indicated 291.8 0.34 - - 0.01 0.38 Inferred 90.5 0.26 - - 0.007 0.29 @ 0.175% CuEq cutof...